O.C.G.A.
O.C.G.A. § 11-3-107 (2019)
Instrument payable in foreign money
✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid.
History
Code 1981, § 11-3-107, enacted by Ga. L. 1996, p. 1306, § 3.
Annotations
RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 3107.
Notes of Decisions
Cited in 1
case, 1996–1996 · leading case: Womack v. Columbus Rentals, Inc., 478 S.E.2d 611 (Ga. Ct. App. 1996).
Womack v. Columbus Rentals, Inc., 478 S.E.2d 611 (Ga. Ct. App. 1996). “pursuant to [OCGA] § 11-3-104 and § 11-2-201 and § 11-3-107 and § 11-3-604 and Cohens v. Virginia, 6 Wheat 264 and Public Law 89-719.”
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